Business Standard

Stocks to watch: Paytm, Voda Idea, CMS Info, Canara Bank, Andhra Cements

Stocks to watch on February 27, 2024: Vodafone Idea is likely to raise equity from new investors, diluting the stakes of existing shareholders when its board meets today

BSE, stock market, Stocks

Photo: Bloomberg

Harshita Singh New Delhi

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Stocks to watch on February 27, 2024: After two days of losses, the sentiment remains weak with the Sensex and Nifty eyeing another muted start on Tuesday. At 7:25 AM, Gift Nifty futures were flat at 22,143.

In Asia, Japan's Nikkei was the sole gainer, up 0.2 per cent. Hang Seng, ASX 200 and Kospi declined around 0.2 per cent each.

Overnight, the S&P 500 index fell 0.38 per cent, the Nasdaq Composite declined 0.13 per cent in the US. The Dow Jones lost 0.16 per cent.

Here are some stocks to watch in today's trade:

Paytm: Vijay Shekhar Sharma has resigned from the board of Paytm Payments Bank as part-time non-executive chairman as the payment bank has decided to reconstitute the board by inducting former bureaucrats and public sector bankers. 

Canara Bank: Its board has approved a stock split of every 1 share into 5 shares. 

CMS Info Systems: As per CNBC Awaaz, the company's promoter Sion Investment will likely sell its entire 26.7 per cent stake in the firm via block deals today. The floor price is set at Rs 360. 

Vodafone Idea: The company's board will meet today to consider fundraising. It is likely to raise equity from new investors, diluting the stakes of existing shareholders, including Vodafone Group Plc, Aditya Birla Group, and the Government of India, reported Business Standard. Read

Andhra Cements: The company's promoter Sagar Cements will sell 5 per cent stake in the company through an offer for sale (OFS). The offer will be open between February 27 and 28. The proposed floor price is set at Rs 90 per share against last close of Rs 111. 

TVS Motor: Its Singapore subsidiary will raise stake in Germany-based electric mobility products and components start-up Killwatt GmbH to 49 per cent from 39.28 per cent by buying an additional 8,000 equity shares for 4 million euros (over Rs 35 crore).

Wipro: The company has partnered with Finnish telecom giant Nokia to deliver private 5G wireless solutions to enterprises to help them create an integrated private environment that they can control to better manage performance and mitigate security risks. 

SBI, Union Bank: The Reserve Bank of India (RBI) on Monday imposed a monetary penalty on State Bank of India (SBI), Canara Bank, and City Union Bank for violation of various norms.

The largest lender, SBI, was penalised with Rs 2 crore for holding shares as pledgee of an amount over 30 per cent of the paid-up share capital of certain companies. Read more

Power Mech Projects: It has received an order worth Rs 396 crore from South East Central Railway on an EPC Basis. 

MCX: MCX has entered into a MoU with Indonesia’s largest commodity exchange Jakarta Futures Exchange to enhance collaboration in knowledge sharing and other market development initiatives.

PDS: The company’s unit will acquire a stake of 5 per cent in Frontier Knitters for Rs 1.02 crore to expand its apparel manufacturing footprint. 

Lemon Tree: It has signed a license agreement for Lemon Tree Resort in Sankhwas Garh, Rajasthan and Keys Lite by Lemon Tree Hotels, Vijayawada.

Grauer and Weil: Its board has approved a bonus share issue in the ratio of 1:1. 

Hind Rectifiers: The company received an order worth Rs 200 crore from the Indian Railways.

HFCL: The telecom equipment company has bagged orders worth Rs 40.36 crore for supply of optical fiber cables.

Saurashtra Cement: The company's shares will begin trading on the NSE from today. 

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First Published: Feb 27 2024 | 7:55 AM IST

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